Define short-term and long-term
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This is why the wealth went to where it is now.
It used to cost 6 months of an average salary to purchase a home, now it costs 10 years of of average salaries to purchase a home.
The fact that minimum wages were much lower at the time doesn't mean people in general earned minimum wage.
Your right aswell, we live in a society that holding any asset class to beat inflation is key. It wasn't always the case though, this happen from the Nixon Shock.
https://en.wikipedia.org/wiki/Nixon_shock
Your defining correct assets in the sense of what has gone up not what should of gone up.
Homes/Car prices/ Costs of goods, etc.
You're in the belief that this has happened throughout history and not just the last 50 years. Those are two completely different pictures.
Edit: and homes are going to get A LOT more expensive to build right now as lumber futures are going to the moon.
https://tradingeconomics.com/commodi...0months%20time.